Dr. Ifeanyi Patrick Ubah, Chairman, Capital Oil and Gas seems to be jumping from frying pan to fire. The Nnewi, Anambra State born business mogul company’s accounts have been frozen by Federal High Court.

We gathered that he has been having a running battle with Asset Management Corporation of Nigeria (AMCON) who bought almost N100 billion debt of Capital Oil and Gas from several banks. His battle with AMCON got so bad that AMCON took him and his company to court and the court has given an order freezing all Capital Oil and Gas accounts and other assets.

Justice M. B. Idris of the Federal High Court Lagos division also barred Dr. Ifeanyi Ubah from dealing with any assets or funds of the company.

It interesting to know that Dr. Ifeanyi Ubah was fined N2.5 million for slapping Ebele Obi, goal keeper of Heartland FC Owerri, Nigeria recently. Nigeria’s League Management Company also punished the owner of Ifeanyi Ubah FC with a ten match ban from all NPFL match venues. We gathered a video evidence nailed the businessman who was captured as he was assaulting the goal keeper.